What's Happening?
The Plaza Grande at Garden State Park in Cherry Hill, New Jersey, has been completed after nearly two decades of development efforts. The 55+ community project, which began construction in 2007, faced multiple ownership changes before being acquired by New York developer William 'Billy' Procida two years ago. Procida successfully completed the development, adding over 300 units to the 33-acre site. The completion of Plaza Grande marks the end of a long-standing development saga that began when the Garden State Park hosted its last horse race 24 years ago, opening up the land for residential development.
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Why It's Important?
The completion of Plaza Grande is significant for the Cherry Hill community as it provides new housing options for the 55+ demographic, potentially attracting more residents to the area. This development could stimulate local economic growth by increasing demand for local businesses and services. Additionally, the successful completion of this project by Procida highlights the challenges and complexities involved in large-scale real estate developments, especially those that span multiple decades and ownerships. The project’s completion may also serve as a catalyst for further development in the region, enhancing Cherry Hill's appeal as a residential area.
What's Next?
With the completion of Plaza Grande, the focus may shift to the integration of new residents into the Cherry Hill community and the potential impact on local infrastructure and services. Local businesses, such as the newly opened Barclay Pies and Tacoria Mexican Street Kitchen, may benefit from increased patronage. Additionally, community events and activities, such as those hosted by the Cherry Hill Library, may see higher participation rates. The development could also prompt discussions on future residential projects in the area, considering the successful completion of this long-term project.
